Regulatory Alerts2016-05-16
Added · Updated
Circular dated May 15, 2016 regarding extending the period of work on the initiative to deal with retail loans for workers in the tourism sector until the end of December 2016
The Central Bank of Egypt extends the initiative for retail loans to tourism sector workers until the end of December 2016, allowing banks to defer loan maturities for up to six months for eligible customers without charging late fees. This extension applies specifically to installment and residential mortgage loans for regular employees, while all other provisions of the initiative remain in effect.
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